October 2026
Largest Investment Banking Public Companies in China
Benchmark revenue and EBITDA valuation multiples for public comps like
CITIC Securities, Guotai Haitong Securities, Huatai Securities, China Securities and GF Securities.
 | CITIC Securities Co Ltd is a brokerage and investment group that provides brokerage, underwriting and sponsoring, proprietary trading, investment banking, asset management, investment advisory, Margin financing and securities lending, Stock option market-making, and other services. The company has five reportable segments, namely Investment Banking, Brokerage, Trading, Asset Management, and Others. It derives maximum revenue from the Trading segment. | $4 | -5% | $58B | $58B | 5.2x | 10.2x | ||
| Guotai Haitong Securities Co Ltd Formerly Guotai Junan Securities Co Ltd is engaged in providing brokerage services, corporate finance, asset management services, and loans and financing services. Its segments include wealth management, investment banking, institutional and trading, investment management, international business, and other segments. The company derives the majority of its revenue from the institutional and trading segment, which consists of research, institutional brokerage, trading and investment, and equity investment. | $2 | +30% | $41B | $41B | 4.5x | - | ||
| Huatai Securities Co Ltd is a financial services provider. The divisions through which the company operates include Wealth management business, Institutional services business, Investment management business, international business, and Others. It has operations spread across Mainland China and Hong Kong, while the Mainland China division generates the company revenues. The company generates key of its revenues from the wealth management business division. | $3 | -13% | $23B | $23B | 4.7x | 9.1x | ||
| China Securities Co Ltd provides a wide range of financial services in China. The company offers a wide range of services that include financial advisory, sponsoring, underwriting of equity and debt securities, brokerage, and investment advisory services to its individual and corporate clients. China Securities also provides services in margin financing, securities lending, trading of equity, equity-linked products, bonds products, and derivatives. | $3 | -7% | $22B | $22B | 6.4x | - | ||
| GF Securities Co Ltd is principally engaged in securities business, the proxy sale of securities investment funds, the provision of futures intermediary services for futures companies, securities investment fund custodian, fund raising, fund sales, asset management, project and investment management, commodity futures brokerage, financial futures brokerage and futures investment advisory, etc. It operates through the following segments: Investment banking, Wealth management, Trading & Institutions, and Investment management. | $3 | -9% | $21B | $21B | 4.1x | 11.4x | ||
| China Merchants Securities Asset Management Co.,Ltd formerly China Merchants Securities Co Ltd is a financial service provider. The company provides services like, investment banking, financial advisory, equity underwriting, assets management, investment advisory, and trading equity securities among others. Its business is divided into four segments: Wealth management and institutional business; Investment banking; Investment management; and Investment and trading. The Wealth management and institutional business segment which generates key revenue engages in the trading of stocks and futures contracts on behalf of clients and includes margin financing, securities lending, and selling financial and other wealth management products. | $2 | +2% | $21B | $21B | 5.9x | 9.6x | ||
| China International Capital Corporation, known as CICC, is a Beijing-based investment banking and financial services group established in 1995. Its activities include investment banking, equity sales and trading, fixed income, currency and commodities services, investment management and wealth management. The company provides financial advice and capital markets services to businesses and institutions, while its wealth management operations also serve individual investors. Its investment banking activities support securities offerings, corporate transactions and access to domestic and international capital markets. Investment management services and research capabilities complement its securities and advisory businesses. CICC earns revenue through financial services, securities activities and the management of client investments rather than manufacturing or selling physical products. The company converted into a joint stock company in June 2015 and listed on the Hong Kong Stock Exchange in November of that year. | $2 | -52% | $19B | $19B | 3.1x | 5.5x | ||
| Shenwan Hongyuan Group Co Ltd is an investment holding and securities firm. Its business includes banking, insurance, trust, and leasing while consolidating and expanding the advantages of the original securities business and building on the capital market as support. The company's business mainly focuses on four segments, including enterprise finance, personal finance, institutional services and trading, as well as investment management. Majority of the revenue for the firm gets derived from Institutional services and trading segment. | $1 | -14% | $16B | $16B | 4.5x | - | ||
| Guosen Securities Co Ltd is a national securities company. It offers investment banking, financial engineering, and asset management services. | $1 | -25% | $15B | $15B | 4.3x | - | ||
| CSC Financial is a Beijing-headquartered full-service securities company founded in 2005 and listed in Hong Kong and Shanghai. It provides investment banking, securities brokerage, trading, research, asset management, wealth management and institutional services. Corporate clients use the firm for equity and debt underwriting, mergers and acquisitions advice and capital-market execution, while retail and institutional investors use its brokerage and investment products. Revenue comes from underwriting and brokerage commissions, asset-management fees, interest income and principal trading. Beijing Financial Holdings Group is the company's largest shareholder, and Central Huijin is another major state-owned shareholder. The group operates nationally through branches and subsidiaries and serves as one of Beijing's principal securities platforms. | $1 | -16% | $11B | $11B | 1.8x | 4.1x | ||
| Orient Securities Co Ltd is engaged in sales and trading of securities including investment and trading, fixed income investment and trading, financial derivatives trading business, NEEQ market-making business, alternative investment, and securities research services. It engages in alternative investment business through Orient Securities Innovation Investment. The Company has established three business systems, namely, comprehensive wealth management, comprehensive investment banking and comprehensive institutional business, and developed four business segments, namely, wealth and asset management, investment banking and alternative investments, institutions and sales trading, international and other businesses, generating key income from wealth and asset management. | $1 | -15% | $10B | $10B | 4.8x | - | ||
| Everbright Securities Co Ltd is a China-based company engaged in providing brokerage and investment consulting services. The company focuses on market entities such as retail clients, institutional clients, and corporate clients, using capital intermediation as a link to build six business clusters: wealth management, corporate finance, institutional clients, investment trading, asset management, and equity investment. The company's segments include Wealth management business, Corporate financing business, Institutional customer business, Investment trading business, Asset management business, and Equity investment business. It generates the majority of its revenue from the wealth management business segment. | $2 | -22% | $8.6B | $8.6B | 5.4x | - | ||
| Founder Securities Co Ltd provides financial services. Its business includes securities brokerage, investment banking, consulting, QFII business, securities underwriting and sponsorship, and fund and asset management. It generates the majority of its revenue from the Wealth Management business segment. | $1 | -14% | $8.2B | $8.2B | 5.2x | - | ||
| China Industrial Securities (Industrial Securities Co., Ltd., 兴业证券) is a Chinese securities firm headquartered in Fuzhou, Fujian province, and listed on the Shanghai Stock Exchange under the code 601377. It operates through wealth management, institutional services, proprietary investment and trading, and asset management businesses, serving retail and institutional clients in China and internationally. Its services cover securities and futures brokerage, margin financing and securities lending, investment banking including equity and bond underwriting and financial advisory, securities research, asset custody, fund and asset management, and proprietary investment in stocks, bonds, derivatives and alternative assets. The company had about 8,279 employees and is led by chief executive Liu Zhihui. It reports that its brokerage income growth ranked fourth among listed brokers and that it has combined investment banking and cross-border services to support science and technology companies. Through its investment subsidiaries it has invested in companies including the electric-car maker Leapmotor (2018), AI X Tech, NETSTORE, YL Entertainment & Sports (2016), China Securities Credit Investment (2015), Lantern and HongQing Technology (2026). It earns brokerage commissions, underwriting and advisory fees, management fees and investment income. | $1 | -12% | $7.3B | $7.3B | 4.1x | - | ||
| Guolian Minsheng Securities Co Ltd is a China-based financial institution. The company's operating segments include Brokerage and wealth management, Credit transactions, Investment banking, Proprietary trading, Asset management and investment, and Other businesses. It generates maximum revenue from the Brokerage and wealth management segment and the Proprietary trading segment. The Brokerage and wealth management segment includes securities trading and brokering services, sales of wealth management products, investment consulting, and asset allocation. The Proprietary trading segment includes trading in financial products. | $0 | -41% | $6.8B | $6.8B | 4.9x | 11.4x | ||
| Zhongtai Securities Co Ltd is a China-based company mainly engaged in wealth management business. The company operates through eight segments: Asset management business segment, Credit business segment, Futures business segment, International business segment, Investment banking segment, Investment business segment, Wealth management business segment, and Others. It generates the majority of its revenue from the Wealth management business segment. The wealth management business mainly provides securities brokerage services, investment advisory services, product allocation services, and comprehensive financial services. | $1 | -17% | $6.5B | $6.5B | ||||
| Changjiang Securities Company Ltd is a financial services company. The company engages in securities brokerage, investment banking, asset management, fixed-income business, fund management, and futures and direct investment. Geographically, the company operates in China. | $1 | -8% | $6.3B | $6.3B | ||||
| Zheshang Securities Co Ltd is a securities brokerage firm. The company offers various services, including securities brokerage, investment banking, asset management, financial adviser services, investment consulting, securities self-operation, and margin trading services. It also engages in the financial futures brokerage business, commodity futures brokerage business, and asset management. It generates the majority of its revenue from the Futures business. | $1 | -18% | $6.1B | $6.1B | ||||
| SDIC Capital Co Ltd is engaged in securities, trusts, public funds, futures, insurance, etc. The company conducts its operations through four segments. The Brokerage segment mainly covers securities and futures brokerage services, along with the distribution of financial products as an agent. The Asset Management segment includes pooled, directional, and specific asset management activities. The Investment Banking segment offers services related to equity and debt financing, mergers and acquisitions, and financial advisory; the Credit business, and Others. | $1 | -16% | $5.9B | $5.9B | ||||
| Soochow Securities Co Ltd is a securities company. Its businesses include securities brokerage, investment banking, securities investing, asset management, fixed-income investing, margin financing, and wealth management. The group also acts as a support system for research consulting, information technology, and risk management, creating a co-development and win-win cooperation future for customers. Geographically, the activities are carried out in China. | $1 | -12% | $5.9B | $5.9B | ||||
| Capital Securities Corp Ltd is a security company. The company's business scope includes securities brokerage, securities investment consulting, financial advisory related to securities trading and securities investment activities, securities underwriting and sponsorship, securities proprietary trading, securities investment fund sales, securities asset management, margin financing and securities lending, agency sales of financial products, Futures companies provide various financial services such as intermediary introduction business. | $2 | -27% | $5.8B | $5.8B | ||||
| HuaAn Securities Co Ltd is a China-based securities company. It is primarily involved in various business activities such as securities brokerage, securities investment consulting, financial advisory, trading and securities investment, wealth management, investment banking, asset management and direct investment business. Geographically all the activities are carried out through China. | $1 | +15% | $5.4B | $5.4B | ||||
| Tianfeng Securities Co Ltd is a China-based company engaged in securities and futures-related business. Its business scope includes securities brokerage, securities investment consulting, financial advisory services related to securities trading and securities investment activities; securities investment fund agency sales; securities underwriting and sponsorship; securities asset management, securities self-employment; margin financing, and securities lending. | $1 | -29% | $5.2B | $5.2B | ||||
| Hongta Securities Co Ltd offers securities trading services. The company's service include financial advisory service, investment banking, debt financing service, equity financing service, and security trading. | $1 | -15% | $4.9B | $4.9B | ||||
| Guoyuan Securities Co Ltd is engaged in securities brokerage, securities investment consulting, securities underwriting and sponsoring, securities asset management, and securities trading in China. The company also provides financial services such as research consulting, direct investment, margin financing, funds, futures, trusts, and insurance. | $1 | -13% | $4.7B | $4.7B | ||||
| China Great Wall Securities Co Ltd is a Chinese company that operates in the trading of securities. Its operations include securities brokerage, securities investment consulting, financial advisory related to securities trading and securities investment activities, securities underwriting and sponsorship, securities self-employment, securities asset management, margin financing, securities lending, securities investment fund agency sales, and sales of financial products. | $1 | -27% | $4.6B | $4.6B | ||||
| BOC International China Co Ltd is engaged in Investment banking business, securities brokerage business, asset management business, securities proprietary business, private equity investment business, futures business, and other businesses. It generates the majority of its revenue from the Securities brokerage business. | $2 | -18% | $4.5B | $4.5B | ||||
| Nanjing Securities Co Ltd is a securities brokerage company. Its business scope covers securities brokerage, securities underwriting and sponsorship, securities self-employment, securities asset management, credit transactions, over-the-counter markets, financial derivatives, internet finance, and many other fields. | $1 | -17% | $4.4B | $4.4B | ||||
| Western Securities Co Ltd provides securities services. It offers securities brokerage, investment banking, asset management, securities research, and securities financing and margin services, as well as independent services. Geographically, all the activities are carried out through China. | $1 | -19% | $4.4B | $4.4B | ||||
| Southwest Securities Co Ltd is a national securities company. Its business includes securities brokerage, securities underwriting and sponsorship, financial consulting, asset management, and margin financing. Through asset management, the company provides customers with its special and professional asset management services. It generates the majority of its revenue from the Brokerage business. | $1 | -13% | $3.9B | $3.9B | ||||
| Guotai Junan International Holdings Ltd is an investment holding company with its subsidiaries engaged in providing financial services. The company operates in five segments: corporate finance, which provides advisory services, placing & underwriting services of debts and equity securities; institutional investor services segment offers market-making, investments, structured product solutions, lending, and other services; wealth management segment provides financial services and solutions to individual investors & small to medium-sized businesses and institutions; investment management is engaged in asset management and fund management services and also includes investment in funds, debts, and equity securities; and Others segment. The vast majority of its revenue comes from Hong Kong. | $0 | -- | $3.5B | $3.5B | ||||
| The Pacific Securities Co Ltd is a China-based company. It is engaged in the securities business. The company operates its businesses through securities broking, including agency trading of stocks, funds, warrants, and bonds, investment banking. | $1 | -20% | $3.5B | $3.5B | ||||
| Northeast Securities Co Ltd is engaged in securities related business. The company provides securities brokerage services, securities underwriting service, securities research and consulting, margin financing, and others. | $1 | -13% | $2.6B | $2.6B | ||||
| BOCOM International Holdings Co Ltd is engaged in securities brokerage, margin financing, corporate finance and underwriting, investment and loans, asset management and advisory businesses. The regulated activities carried out by the company’s licensed subsidiaries include dealing in securities and futures and advising on securities and futures contracts, providing securities margin financing, advising on corporate finance and providing asset management services. Its segments include Brokerage segment, Corporate finance and underwriting segment, Asset management and advisory segment, Margin financing segment, Investment and loans segment, and Others. Brokerage segment derives majority of the revenue that provides securities trading and brokerage services. | $0 | -19% | $138M | $138M | ||||
| Median | $1 | -15% | $6.2B | $6.2B | 4.8x | 9.1x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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